Project detail - JAIN IRRIGATION SYSTEMS LTD.

JAIN IRRIGATION SYSTEMS LTD.

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Who is our client

Jain Irrigation Systems Ltd. is one of India's largest integrated agribusiness players, with manufacturing operations in micro irrigation systems and piping systems, PVC sheets, agro processed products and renewable energy. Jain is the second largest micro irrigation systems player globally and is the leading market player in India.

Funding objective

FMO has invested in a senior debt facility and a foreign currency convertible bond that will be provided to Jain Irrigation Systems Ltd. as part of a larger financing package. The funds of the financing package will be used by Jain to expand its domestic capacity in India, helping the company to remain a market leader in the country and to continue international expansion in several countries in Africa.

Why we fund this project

Adoption of micro irrigation systems by farmers increases farm yields and decreases the dependency on weather conditions, having a direct positive impact on farmers' income. Furthermore, it improves water management. In India, 80% of water resources is used for agriculture; hence maximizing water usage is essential.

More investments

Date Total FMO financing
2/26/2013 USD 17.00 MLN
2/26/2013 USD 3.00 MLN
Website client
http://www.jains.com
Region
Asia
Country
India
Sector
Agribusiness, Food & Water
Signing date
2/27/2013
Total FMO financing
USD 5.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B